| Company | Balaji Phosphates Limited |
| Company Type | SME |
| Sector | Fertilizers |
| Promoter Holding- Pre IPO | 100% |
| Promoter Holding – Post IPO | 69.90% |
| Dilution (%) | 30.10% |
| Fresh Issue | 59,40,000 Shares -INR 41.58 Cr. |
| OFS | 12,18,000 Shares – INR 8.53 Cr. |
| Offer Size | INR 50.11 |
| Price Band | INR 66-70 per share |
| Cost for one lot | INR 1,40,000 |
| No. of Share Post-IPO | 2,37,77,100 Shares |
| Market Cap | INR 166 Cr. |
| FY22 Profit | INR 3 Cr. |
| FY23 Profit | INR 6 Cr. |
| FY24 Profit | INR 6 Cr. |
| 5MFY25 Profit | INR 4 Cr. |
| P/E | 22x |
| Last Year’s Sales Growth | -15% |
| Opening Date | 28-Feb-2025 |
| Closing Date | 4-Mar-2025 |
| Listing Date | 7-Mar-2025 |
| DRHP | https://nsearchives.nseindia.com/emerge/corporates/content/Registration_30092024193339_Balaji_Phosphates-DRHP.pdf |
| Anchor Portion Size | 8.57 Cr |
| Anchor lock-in-period end date for 50% shares(30 days) | 4-April-2025 |
| Anchor lock-in-period end date for remaining shares(90 days) | 3-June-2025 |
Question 1. What is the overview of the Company?
Balaji Phosphates Limited, established on April 4, 1996, is a prominent Indian manufacturer specializing in phosphate-based fertilizers. The company’s product range includes Single Super Phosphate (SSP) in both powdered and granulated forms, NPK Granulated and Mixed Fertilizers, and Zinc Sulphate. These products are marketed under the brand names ‘RATNAM’ and ‘BPPL’ and comply with the Fertilizer Control Order of India standards.
The company’s manufacturing facility is located at 23B–24A, Industrial Area No.1, A.B. Road, Dewas, Madhya Pradesh, with an installed capacity of 120,000 MTPA for SSP and 3,300 MTPA for Zinc Sulphate.
Balaji Phosphates The administrative and registered offices are situated at 305, Utsav Avenue, 12/5, Ushaganj Jaora Compound, Indore, Madhya Pradesh.
Balaji Phosphates has established a strong presence in the central Indian region, particularly in Madhya Pradesh, with its manufacturing and administrative operations centered in Indore and Dewas. The company’s strategic location enables efficient distribution of its fertilizer products, supporting agricultural activities and contributing to sustainable farming practices in the region.
Product wise Revenue Bifurcation:
Geography wise Revenue Bifurcation:
Installed Capacity and Capacity Utilization:
Question 2 : Who are the promoter of the Company ?
Balaji Phosphates Limited is promoted by:
- Mr. Alok Gupta: Promoter and Director
- Mr. Mohit Airen: Promoter and Director
Together, they have over 40 years of experience in the fertilizer industry and are actively involved in the company’s strategic planning and operational management.
Question 3: How Company performed in the past ?
| Particular(INR Cr. | FY22 | FY23 | FY24 | 5MFY25 |
| Total Revenue | 124 | 145 | 152 | 54 |
| Net Profit | 3 | 6 | 6 | 4 |
Question 4: How much money is the Company raising and why?
In the IPO, the company is offering 71.58 Lakh shares, priced at INR 66-70 per share, aggregating to total of INR 50.11 Cr. with a lot size of 2000 shares. For the purpose off:
For capital expenditure towards establishing a warehouse at their subsidiaries factory premise & upgradation of existing facilities – INR 12.87 Cr.
For working capital requirements- INR 19 Cr
Offer For Sale – INR 8.53 Cr.
General Corporate Purposes
Question 5: Valuation of the company and comparison with Other Companies
| Particular | Market Cap (In Cr.) | P/E |
| Balaji Phosphates Limited | 166 | 22x |
| Coromandel International Limited | 49,185 | 30x |
| Paradeep Phosphates Limitied | 7,169 | 17x |
| Rama Phosphates Limited | 310 | 28x |
Balaji Phosphates IPO Registrar
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
IPO Lead Managers aka Merchant Bankers
- Arihant Capital Markets Limited
Company Address
Balaji Phosphates Limited
305, Utsav Avenue, 12/5, Usha Ganj Jaora Compound,
Indore G.P.O., Indore (Madhya Pradesh)- 452001
Phone: +919827090267
Email: infous@balajiphosphates.com
Website: www.balajiphosphates.com
Balaji Phosphates IPO FAQs
What is Balaji Phosphates IPO?
Balaji Phosphates IPO is a SME IPO. The company is going to raise ₹50.11 Crores via IPO. The issue is priced at ₹₹66 to ₹70 per equity share. The IPO is to be listed on NSE.
When Balaji Phosphates IPO will open for subscription?
The IPO is to open on February 28, 2025 for QIB, NII, and Retail Investors. The IPO will close on March 4, 2025.
What is Balaji Phosphates IPO Investors Portion?
The investors’ portion for QIB is 30%, NII is 30%, and Retail is 40%.
How to Apply the Balaji Phosphates IPO?
You can apply for Balaji Phosphates IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form.
What is Balaji Phosphates IPO Issue Size?
Balaji Phosphates IPO issue size is ₹50.11 crores.
What is Balaji Phosphates IPO Price Band?
Balaji Phosphates IPO Price Band is ₹₹66 to ₹70.
What is Balaji Phosphates IPO Lot Size?
The minimum bid is 2000 Shares with ₹1,40,000 amount.
What is the Balaji Phosphates IPO Allotment Date?
Balaji Phosphates IPO allotment date is March 5, 2025.
What is the Balaji Phosphates IPO Listing Date?
Balaji Phosphates IPO listing date is March 7, 2025. The IPO is to list on NSE.
